Sterling Bancorp merges with Astoria Financial in $2.2B deal
Sterling Bancorp and Astoria Financial Corporation announced today that the two banking giants merged in a stock-for-stock transaction valued at roughly $2.2 billion.
The price tag was based on the closing price of Sterling Bancorp's (NYSE: STL) common stock on March 6, 2017.
Astoria Financial (NYSE: AF) had been exploring deal opportunities. The New Hyde Park, New York-based bank originally agreed to combine with New York Community Bancorp (NYSE: NYCB) but both companies' boards had...